Arris Group Inc. (NASDAQ:ARRS)‘s stock had its “outperform” rating reiterated by analysts at RBC Capital Markets in a note issued to investors on Monday. They presently have a $35.00 price target on the stock, up from their previous price target of $33.00. RBC Capital Markets’ target price would indicate a potential upside of 21.91% from the stock’s previous close.
A number of other brokerages have also weighed in on ARRS. Zacks Investment Research lowered shares of Arris Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Stifel Nicolaus reaffirmed a “positive” rating and set a $33.00 target price on shares of Arris Group in a research note on Thursday, September 29th. Morgan Stanley assumed coverage on shares of Arris Group in a research note on Tuesday, September 20th. They set an “overweight” rating and a $34.00 target price on the stock. Jefferies Group reaffirmed a “buy” rating and set a $34.00 target price on shares of Arris Group in a research note on Tuesday, October 4th. Finally, TheStreet raised shares of Arris Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Arris Group presently has a consensus rating of “Buy” and an average target price of $33.20.
Arris Group (NASDAQ:ARRS) opened at 28.71 on Monday. The firm’s market cap is $5.47 billion. The company has a 50-day moving average of $28.08 and a 200 day moving average of $24.85. Arris Group has a 12-month low of $20.05 and a 12-month high of $32.93.
Arris Group (NASDAQ:ARRS) last announced its earnings results on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.19. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Arris Group had a negative net margin of 1.09% and a positive return on equity of 17.91%. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities analysts expect that Arris Group will post $2.82 EPS for the current fiscal year.
In other Arris Group news, insider Ronald Coppock sold 10,000 shares of Arris Group stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $28.50, for a total value of $285,000.00. Following the completion of the transaction, the insider now directly owns 24,750 shares of the company’s stock, valued at $705,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruce William Mcclelland bought 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was purchased at an average cost of $27.15 per share, with a total value of $135,750.00. Following the completion of the acquisition, the insider now directly owns 174,288 shares of the company’s stock, valued at approximately $4,731,919.20. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. CKW Financial Group purchased a new position in shares of Arris Group during the second quarter valued at about $123,000. MU Investments Co. Ltd. purchased a new position in shares of Arris Group during the second quarter valued at about $132,000. Calvert Investment Management Inc. boosted its position in shares of Arris Group by 1.7% in the second quarter. Calvert Investment Management Inc. now owns 9,851 shares of the company’s stock valued at $206,000 after buying an additional 167 shares during the period. Marshall Wace LLP purchased a new position in shares of Arris Group during the second quarter valued at about $209,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Arris Group during the second quarter valued at about $218,000. 85.06% of the stock is owned by institutional investors and hedge funds.
Arris Group Company Profile
ARRIS International plc focuses on entertainment and communications technology. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The CPE segment’s products include Set-Top, Gateway, digital subscriber line (DSL) and Cable Modem, and Embedded Multimedia Terminal Adapter (E-MTA) and Voice/Data Modem.
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